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In light of National Small Business Week, WalletHub’s analysts checked the Hispanic business climate in the 150 largest U.S. cities and conducted an in-depth analysis of 2016’s Best Cities for Hispanic Entrepreneurs, to help aspiring entrepreneurs and established businesses find the most fertile ground for their enterprises.

Not only is the Hispanic and Latino community expected to make up a third of the entire U.S. population by 2050, but this demographic is also creating businesses at 15 times the national rate today, according to a report from analytics firm Geoscape and the USHCC.

What’s more, their economic contributions are nothing short of monumental. Since 2012, the more than four million Hispanic-owned businesses in the U.S. have hauled in an extra US$144 billion in combined yearly revenue, bumping 2015’s total to us$661 billion.

Since 2012, the more than four million Hispanic-owned businesses in the U.S. have hauled in an extra US$144 billion in combined yearly revenue

WalletHub’s analysts compared the 150 largest U.S. cities across 19 key metrics. Data set ranges from “Hispanic entrepreneurship rate” to “Hispanic income growth” to “share of Hispanic-owned businesses.”

Top 20 Cities for Hispanic Entrepreneurs
1Laredo, TX11Amarillo, TX
2El Paso, TX12Plano, TX
3Corpus Christi, TX13San Antonio, TX
4Pembroke Pines, FL14Chesapeake, VA
5Baton Rouge, LA15Miami, FL
6Hialeah, FL16Irvine, CA
7Brownsville, TX17Springfield, MO
8Sioux Falls, SD18Grand Prairie, TX
9Tulsa, OK19Mobile, AL
10Oklahoma City, OK20Overland Park, KS

Comparing the Best & Worst:

  • Hialeah, Fla., has the highest percentage of Hispanic residents, 95.6 percent, which is 61 times higher than in Jackson, Miss., the city with the lowest, 1.6 percent.
  • Montgomery, Ala., has the lowest Hispanic unemployment rate, 3.88 percent, which is five times lower than in Detroit, the city with the highest, 20.86 percent.
  • Irvine, Calif., has the highest percentage of Hispanics with at least a bachelor’s degree, 53.09 percent, which is 10 times higher than in Detroit, the city with the lowest, 5.10 percent.
  • Detroit has the highest percentage of affordable housing for Hispanics, 68.23 percent, which is nine times higher than in New York, the city with the lowest, 7.43 percent.
  • Pembroke Pines, Fla., has the lowest Hispanic renter-to-owner ratio, 0.47, which is 12 times lower than in Worcester, Mass., the city with the highest, 5.54.

Guillermo de los Reyes Heredia, Associate Professor of Latin American Literature and Cultural Studies, and Director of Undergraduate Studies in the Department of Hispanic Studies at University of Houston, suggested the  biggest challenges faced by Hispanic entrepreneurs have to do with access to information, knowledge of the new regulations, and insufficient funds to start-up a business. “It is also difficult to venture and navigate outside their own community,”he added. According to Reyes Heredia, Hispanic entrepreneurs interested in starting their own business should be informed about the new regulations;Learn about your own community vis-à-vis other communities in your city;Advertising your business is pivotal; Make sure that all your papers are in order and up-to-date;and Seek trustworthy legal advice.

January seemed like a calm month, but it wasn’t. Everything seems to indicate that decisions have been made that will define the year. From the closing of Yahoo‘s offices in Mexico and Argentina (wow!), to various reorganizations and launches, it seems like 2016 is off to a start that few expected.

Translated by Gretchen Gardner

Yahoo Shuts Down Operations

A few days ago I looked at my  Facebook feed, as I do every day, yahooand saw that a few of my friends in Mexico had changed their profile pictures to an image with a purple background with text that read, “Once Purple, Always Purple. We stand with all of you.”

In addition to the images, there were messages expressing condolences with pictures that depicted different professional memories from the past years, tagged in a way that suggested nostalgia.

yahoocouchI understood that something had happened in Mexico, but didn’t understand what. Until someone else dared to ask about this state of mourning. Like that, I found out that Yahoo had closed its office in Mexico. And then I found out that the same thing had happened in Argentina. Consequences of globalization (and I’m based in Buenos Aires).

With the shutdown of Yahoo operations in the region, an era comes to an end. It’s a big deal. Digital professionals tend to put a lot of passion into what they do, and when things end this way, so do parts of our professional stories.

We will miss the best parties in the industry. Those purple wigs. That Bergère couch that was so emblematic. We have a lot of lovely shared memories.

A New Project

diego
Diego Cormio

A few days ago I found out that Diego Cormio had left his job at
Clarín, where he was developing their digital business in the commercial area. Apparently, he will be working on a professional project (it seems like he still can’t say much). How intriguing!

US Media Consulting is Renewed

GAston-real
Gaston Real

There are changes going on within the USMC team. Gaston Real entered as CTO to lead the technology team that runs MediaDesk. Salvador Caloggero is now the product definitions as Product Owner and Ignacio Roizman took on a commercial role, now leading the local sales team (as he continues to manage  the regional operational aspects as COO).

Careful, It Vibrates!

I found out that Opera Mediaworks will be launching a rich media format with vibrating technology. This means that the format will make phones vibrate according to what is seen on the screen to simulate explosions, car engine sensations, shots, etc.

Be careful, if a client works with this format and you find yourself within their target, your phone will probably start to vibrate. Don’t say I didn’t warn you.

Growth Startups

It seems like the Growth Startup team has started 2016 on a roll. They just signed an agreement with an important multinational company in electronics based in Uruguay. They couldn’t tell me much more, but I’ll give you a clue: they produce cell phones and televisions. Who could it be?

Google Jumps on the Green Bandwagon

I’ve been told that the AdWords team has been moved to the third floor in Puerto Madero. I haven’t seen it personally, but they told me that the style is very “green” and “zen.” In that atmosphere, it’s fun to be stressed. Of course I’m only kidding.

That’s all, folks. See you in February! It will be a short month, although I am guessing there will be much to talk about.

Just as we saw in the unique user rankings published in mid-November, Google and Facebook are in first and second place, respectively, in the “video” category in Latin America (with the exception of Mexico, where Facebook is third, behind VEVO).

In general terms, as much as these rankings show the transmission of audiovisual content as a common denominator, it is interesting to observe certain particular characteristics:

  1. Some sites only permit a passive participation by the user, in the sense that the user can only consume content from the site without adding his or her own (aside from commenting or sharing). Examples of this are Grupo Clarín, Globo, Grupo Televisa and ABC Digital, whose video content is exclusively controlled by the media editor through a clear communications strategy. This way, on these sites, the user cannot make decisions related to, for example, topics, duration or location (on a particular section of the site) of the videos that he or she consumes.
  2. Other sites do permit active participation from users, allowing the user to operate like a content editor (deciding to upload his or her own content, choosing topics, uninstalling, determining in which section of the site it will be published, etc.). Facebook and YouTube are examples of this.
  3. Regarding distribution, when it comes to websites that allow active participation as well as passive, users have functionalities that allow them to share content with friends and acquaintances.
  4. Another phenomenon that we observed is that in the majority of cases, the sites and platforms on the rankings use technology provided by YouTube or Facebook. in other words, as much as the other sites and platforms may have made the top 10, that content still belongs to YouTube and Facebook. Some of these platforms are Maker Studios, Fullscreen, Machinima Entertainment, QuizGroup, ZEFR and ZOOMIN.TV. Of course, they have particularities that differentiate them from each other and that have allowed them to climb into the rankings. But it is important to highlight the role that distribution has for YouTube and Facebook (which explains why both platforms appear in the first two spots of the rankings).
  5. Finally, with respect to the quality of the material presented on the sites and platforms on the rankings, there are two noteworthy trends: on the one hand, premium content, and on the other hand, content generated by the user. In the context of this article, anything produced professionally with the objective of illustrating, positioning or reinforcing the ideology of the media outlet that has produced it can be called premium content. This type of content appears on the sites mentioned in the first point. In contrast, content generated by the user is anything “homemade” ( including anything that has been produced by a professional, using high-quality resources). In other words, we understand that content generated by the user, even when it is high-quality, loses its ideological power when it is published in an isolated context among many other homemade videos of different quality. This is the case of the sites and platforms that occupy the second spot in the rankings.

We also see that when the first-ranked sites publish audiovisual content generated by the user, the context of the publication configures the premium treatment that is given to the piece, with which, only in this case, the content generated by the users acquires characteristics of premium material, since it illustrates a certain alignment that the media outlet controls according its own discretion.

We can see these concepts reflected in the rankings from the participating countries here:

Source: comScore Video Metrix, United States, Hispanic All, October 2015, PC/Laptop OnlyTotal Unique Viewers (000)
    Total Internet:  Hispanic All25.120
    Top 10 Video Properties
1    Google Sites22.398
2    Facebook11.496
3    VEVO6.811
4    Yahoo Sites6.382
5    Maker Studios Inc.6.148
6    Warner Music5.720
7    Vimeo5.388
8    ABC Digital4.484
9    Microsoft Sites3.941
10    Fullscreen3.859
Source: comScore Video Metrix, Argentina, September 2015, PC/Laptop OnlyTotal Unique Viewers (000)Total Unique Viewers (000)
    Total Internet : Total Audience17.191
    Top 10 Video Properties
1    Google Sites16.379
2    Facebook12.335
3    VEVO10.123
4    Warner Music8.726
5    Maker Studios Inc.8.252
6    Grupo Clarin5.994
7    Machinima Entertainment5.910
8    QuizGroup5.188
9    Fullscreen4.653
10    ZEFR3.756
Source: comScore Video Metrix, Brazil, September 2015, PC/Laptop OnlyTotal Unique Viewers (000)Total Unique Viewers (000)Total Unique Viewers (000)
    Total Internet : Total Audience68.063
    Top 10 Video Properties
1    Google Sites55.937
2    Facebook50.956
3    Maker Studios Inc.23.650
4    Warner Music21.865
5    VEVO21.680
6    Globo18.938
7    ZOOMIN.TV16.349
8    Fullscreen15.519
9    Machinima Entertainment12.803
10    QuizGroup12.611
Source: comScore Video Metrix, Mexico, September 2015, PC/Laptop OnlyTotal Unique Viewers (000)Total Unique Viewers (000)
    Total Internet : Total Audience25.992
    Top 10 Video Properties
1    Google Sites17.216
2    VEVO17.151
3    Facebook17.060
4    Warner Music13.923
5    Maker Studios Inc.11.019
6    Machinima Entertainment8.240
7    QuizGroup7.867
8    ZEFR6.489
9    Fullscreen6.282
10    Grupo Televisa5.288
Source: comScore Video Metrix, Chile, September 2015, PC/Laptop OnlyTotal Unique Viewers (000)
    Total Internet : Total Audience5.970
    Top 10 Video Properties
1    Google Sites3.960
2    Facebook3.959
3    VEVO3.923
4    Warner Music3.530
5    Maker Studios Inc.3.163
6    Machinima Entertainment2.622
7    QuizGroup2.176
8    Fullscreen1.775
9    ZEFR1.578
10    ZOOMIN.TV1.445
Source: comScore Video Metrix, Colombia, September 2015, PC/Laptop OnlyTotal Unique Viewers (000)
    Total Internet : Total Audience14.256
    Top 10 Video Properties
1    Google Sites9.292
2    Facebook9.199
3    VEVO6.619
4    Warner Music5.206
5    Maker Studios Inc.4.666
6    Machinima Entertainment3.285
7    QuizGroup3.076
8    Vidaprimo2.822
9    Fullscreen2.368
10    ZEFR2.115

 

Facebook has emerged as a powerful platform for advertising, particularly because of video’s ability to transmit beautiful, immersive messages to targeted audiences. But what happens when certain audiences, like much of Latin America, don’t have access to the bandwidth or devices to stream those videos?

Facebook released the Slideshow in October 2014. We covered the launch in a feature article, but we were interested to learn more about how did this development figures into Facebook’s plans for Latin America in 2016.

marcela Pan-Latam Business & Partner Marketing Manager Marcela Tonello says that the main appeal of combining a low-bandwidth solution like the Slideshow with a platform like Facebook is that it works perfectly in all sectors and verticals. And as advertisers have already discovered, Facebook offers one of the best ways to target ads to certain audiences, assuring that the message reaches the people that generate results. The more specific that advertisers can be in targeting their messages, the more valuable the platform is, and in that sense, almost nobody has Facebook beat.

With the right targeting, focused on bandwidth, device, geography and demographic [the Slideshow] can help deliver the right message to the right person at the right moment.

While creating an effective Facebook ad requires that advertisers invest time in customizing their ads for the right targets, the payoff is significant, Tonello says. “It’s important to say that advertisers will maximize return from investing in slideshow ads when they combine the tool with intelligence on targeting. With the right targeting, focused on bandwidth, device, geography and demographic [the Slideshow] can help deliver the right message to the right person at the right moment,” Tonello explains.

Facebook has invested great effort in creating solutions for different needs. Those targeting audiences with strong connectivity and mid/high-end devices will find that the Video format is best, while those who want to offer users a choice in how to interact with the brand while highlighting different creative assets can use Carrousel, which allows multiple images and links in one ad. The Slideshow brings even more versatility to Facebook ads by creating an option that works with low connectivity or low-end devices, and offers advertisers with smaller budgets a platform for motion messages that does not cost as much as a video production.

Tonello believes the impact of the Slideshow will be significant for advertisers targeting Latin America, “since infrastructure and quality of the devices are a barrier for video consumption in some specific regions or audiences.” What’s more, nothing is more effective then reaching people organically through the newsfeed they check multiple times a day. The Slideshow allows advertisers to “reach people organically through their newsfeed with a beautiful, immersive message,” says Tonello.

While on the topic of ad-tech, we were curious to learn more about the Facebook DSP, and whether it would be introduced in Latin America in the near future. Tonello was mum on the subject, saying that for the moment, Facebook was “still working on ways to bring our advertising tech business to Latin America clients’ but that the company is “committed to continue looking for ways to make Facebook a cutting-edge option for advertisers in Latin America.”

Carlos Espíndola (3M), Denisse Guerra (Estée Lauder), Martín Jones (L’Oréal) and Borja Beneyto (Starcom MediaVest) give Portada an exclusive look at their Latin American marketing and media 2016 forecasts.

Carlos Espíndola, 3M: Efficiency and Effectiveness

“My expectations for 2016 are efficiency and effectiveness. The situation in Latin America in terms of politics and economics is very complicated, and companies need to make efficient

Carlos Espíndolainvestments in advertising to have a greater and better impact. Media outlets and agencies must develop greater empathy for advertisers and their realities, and advertisers must develop the ability to be more effective, productive and relevant. It’s no longer necessary to invest millions in different media outlets: the most important thing is to develop automated marketing plans that guarantee a return on investment for consumer outreach programs.”

 

Denisse Guerra, Estée Lauder Companies: Full-Fledged Development of E-Commerce

“Our expectations as a company and as specific brands will be the exhaustive development of our e-commerce business for our retailers (especially the fragrance brands that we license). For our prestigious brands, which Denisse Guerrahave traditionally done business in physical stores, it is a great opportunity to recruit new clients through online media and reward our loyal consumers. Of course, we will continue to develop strategies to keep providing a “high-touch” service to all of our clients in physical stores, but we must work on strategies so that this “high touch” can be transmitted through our e-commerce and social media as well. In the fragrance area, it will be very important to develop creative communication strategies for digital media that can substitute the consumer experience of going into the store to smell aromas, creating a digital environment that makes the consumer want to find out more and then receive samples or decide to make a trip to a physical location.”

We must work on strategies so that this “high touch” service can be transmitted through our e-commerce and social media as well.

Martin Jones, L’Oreal: Marketing Automation, Content Marketing and Mobile Marketing

“The majority of expectations for 2016 were trends in 2015; what we hope is that these trends consolidate this year. Expectations for 2016 are very clear for the digital world: automated marketing,  microtargeting and personalization are at the Martin Jonescenter of digital strategies. It is increasingly necessary to direct personalized communication and content to consumers; impacting audiences precisely according to their behaviors is the key to media ROI (here there are two key factors: email marketing and predictive analysis), and on the other hand, programmatic buying will become significant in 2016. Content marketing: the video ad forms part of any advertiser’s agenda as an extension of his or her TV, but more than anything through productions designed for the digital world (at a lower cost to generate a larger volume of content). Another important point on the agenda is data-driven marketing: finding important insight from all information obtained from audiences and programs is vital to decision-making. We must know our consumers. Mobile marketing: today, everything has to start on mobile. Geolocalization and transactional experiences are the motor for deepening the mobile experience. Electronic PR will form part of the content agenda of every brand, and the curation and distribution of content is increasingly relevant to win the battle of earned media. The wearables market and its outlook for the future will see growth into 2020. Inbound marketing or “attraction marketing” will be articulated through different resources: blogs, podcasts, vídeos, ebooks, boletines, whitepapers, optimization techniques for search engines (SEO) and social media.”

Borja Beneyto,Starcom MediaVest Group: Data Management

Borja Beneyto“I believe that 2016 will be the year in which the industry will become more sophisticated in its data processes, tools and products. This is something that will turn data management into not only a commodity in terms of services, but also in an audited base for businesses to generate sequential communications, total investment efficiency in multi-disciplinary media and above all, precision marketing. On the other hand, we will see more advanced search models appear through the results of e-commerce on demand, the evolution of content aggregators, the unstoppable advance of mobile thanks to messenging, the added value of social media to maximize the sales funnel and intelligence applied to photography archives.”

Data processes will not only turn into a commodity in terms of service, but also in an audited base for businesses to generate sequential communications.

So there you have it: the opinions of important brands and agencies in the region. Shortly, we’ll be releasing the 2016 marketing and advertising forecast from the Latin American media owners perspective.

 

CHECK OUT: 2015 LatAm Marketing Highlights According to Estée Lauder, Viacom, Starcom, L’Oreal, Zoomin.TV, 3M….

Political advertising is estimated to hit a record of  US$11.4 billion in 2016, 20% more than the last comparable Presidential Election year of 2012, according to a recent report from Borrell Associates. Interestingly, digital ad spendings ratio in terms of overall political ad spend still lies below 10%.

As the money-laden Presidential Election cycle begins its slow climb toward its peak − with all media on board for the ride − the upcoming twists, turns and inverted loops of 2016 are sure to thrill. Political advertising is estimated to hit a record of  US $11.4 billion in 2016, 20% more than the last comparable Presidential Election year of 2012, according to a recent report from Borrell Associates .

But, that’s just part of the story. In reality, the political marketing campaign has already begun. Adding what will be spent on next year’s contests in 2015, political advertising still holds a whopping US$16.5 billion.

Broadcast TV will have a share of 51.9%, followed by Cable with 8.9% and Newspapers with 8.2%. Radio has a predicted share of 7.2% and Digital/Online 6.6%.

Digital Media will break the US$1 billion level for the first time in 2016. At 9.5% of total spending, political still hasn’t caught up with other categories that earmark 30%-50% for digitals.

The presidential race has allowed 2016 election spend to bleed into 2015 at the National level, but nearly half of all 2016 political dollars will be spent on local (state and below) campaigns – in different media.

Borrell expects that Broadcast TV will have a share of 51.9%, followed by Cable with 8.9% and Newspapers with 8.2%. Radio has a predicted share of 7.2% and Digital/Online 6.6%.

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“While national elections will draw all the attention, almost half of that money will be spent at the local level, delivering messages about candidates and issues concerning governors, state legislative districts, ballot issues, and regional and city governments, ” says the report.

Summing up, Borrell writes, “It’s going to be an incredible year. There are a total of 30,000 contests next November, going down to the local level.”

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